Family Office Definition: Long-Term Care Insurance
Long-Term Care Insurance definition: Long-term care insurance policies provide protection for family members that need assistance due to illnesses, disabilities, or later in life with longer life expectancies. The policy can be set up to pay for care in the home, at a facility, or respite care (relief for family caregivers). Policy benefits can be paid based on actual expenses incurred or cash payments irregardless of expenses.
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